If you’re trying to find a way for your smaller business to become competitive by upgrading your industrial equipment, buying second-hand equipment can be a very cost-effective way to do this without being forced to make sacrifices in other parts of your budget.

The top original equipment manufacturers (OEMs) of today have products that can last a very long time, so even used industrial equipment has the potential to last you as long as is necessary. However, there are some very important things to consider before making a purchase like this to ensure you’re getting the best bang for your buck.

Purpose Of The Equipment

While this may seem obvious, it’s important to figure out exactly what you hope to get out of your equipment. You may be looking for ways to improve productivity by adding additional machines, or need to upgrade older, less-functional models. Depending on your need, you may want to consider buying a used machine that is older if you don’t need top-of-the-line performance. On the other hand, if you intend for it to serve as your main source of productivity, purchasing a second-hand machine that is only a few years old would be a better option.

Where To Purchase Used Equipment

Nowadays, one of the best options for buying second-hand industrial equipment is by searching for vendors online. There are dealers that specialize in providing equipment and other services like transportation, setup, and limited warranties that make things much easier for the buyer. A simple way to find numerous options quickly is to use a website that curates local dealerships offering used industrial equipment. If you work in LA, for instance, it would make sense for you to look into finding out which are the most reliable vendors in the area. If you’re looking for used forklifts in Los Angeles, there are websites that will direct you to vendors in your area based on your specific needs. Sometimes opting for the used equipment option makes more sense because it does mean that you will spend less and the machine may be working just as well as a newly purchased one- the key is finding reliable vendors in your area.

Reputation And Reliability Of The Vendor

You don’t want to buy a piece of second-hand equipment, only to realize that once you’ve gotten it, that it’s heavily damaged or in need of so much repair work that you’ll end up spending more on fixing it than you would have if you’d just bought it new. Checking a vendor’s online reviews can give you a quick overview of previous customer satisfaction and allow you to check if there have been complaints about them. Figure out if these endorsements and complaints are relevant to the purchase you intend to make so you can decide if it is worth doing business with them or not.

Condition Of The Equipment

In order to verify that the second-hand equipment you’ve bought is in good condition, have an operator inspect it to make sure there are no significant issues. If possible, obtain the equipment’s service records, as that will give you a pretty good idea of how long it’s been in operation and any notable instances of repairs. You can also simply look it over, checking for obvious signs of upkeep or maintenance, such as new coats of paint or having been recently cleaned. If the equipment is mired in filth, chipped paint, and rust, that can indicate that the previous owners weren’t properly maintaining it and is a cause for concern.

Possible Resale Value

While most industrial equipment will drop by 20-40% in value about 12 months after the initial sale from the manufacturer, the price will then stabilize. As long as you properly maintain the equipment, it can remain at that price for up to five years.

Because of this, you can resell the equipment for about the same amount as you purchased it should you need to, which gives you a built-in safety net if you decide to get rid of it for any reason.

Ease Of Use For The Operators

Talk to your operators and get their feedback about how easy it will be for them to use the equipment and keep it in running order. There are other factors that you might not think of that they can inform you about to keep in mind when buying the equipment. As the operators are the ones who will actually be using the machines, ensuring that they won’t have any problems and help you to get the most out of your purchase.

If buying second-hand industrial equipment seems like the best option for you and your business, keeping these things in mind will help make your purchasing experience much easier. The internet has made finding used equipment simpler than ever. What you need is out there, so put together a checklist of what you want and how you intend to use the equipment. Soon, you’ll have everything necessary to help your business thrive.